What Would Happen If Bitcoin ?Disappeared Tomorrow

[Bitcoin7543425]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

Thinking about this makes me realize how much Bitcoin has become a part of our financial world and how many people depend on it now I am curious what you all think Would the world adapt quickly or would it cause a major shock to the global economy

[Joy_learns_crypto]

The question is wrong, bitcoin can not disappear or stop existing, you can’t check your wallet and see that all your bitcoin has suddenly or mysteriously gone. Bitcoin market can only crash and the value becomes nothing but your bitcoin will always remain in your wallet until it is stolen or you send it out.

The world will only mourn their loss some could go extreme if they had big investments in bitcoin but life will continue. Life will continue if anything happens but I don’t think bitcoin will crash.

[lionheart78]

The question is wrong, bitcoin can not disappear or stop existing, you can’t check your wallet and see that all your bitcoin has suddenly or mysteriously gone. Bitcoin market can only crash and the value becomes nothing but your bitcoin will always remain in your wallet until it is stolen or you send it out.

Aside from market crashing and value being worthless, once all the miners stop pointing their hashes at Bitcoin, the Bitcoin network will stop, and the transaction will be impossible to confirm.

The world will only mourn their loss some could go extreme if they had big investments in bitcoin but life will continue. Life will continue if anything happens but I don’t think bitcoin will crash.

True, the world will carry on because Bitcoin is not a mandatory factor that is needed for the world to continue.  Only the sector that is invested in Bitcoin will be greatly affected but those who don't hold any will just shrug their shoulder and move on.

About the future of Bitcoin, whether it will stay or become obsolete is for us to see.  Instead of worrying about the future of Bitcoin, let's just take advantage of the benefits it gives today and just reserve a fail-safe plan if ever Bitcoin stop performing well.

[Ultegra134]

As the previous poster already mentioned, it's impossible for Bitcoin to suddenly cease to exist, even coins that have "died" still exist, but their value has simply tanked, disappearing from the market once and for all. Could this scenario happen to Bitcoin? It's certainly possible, but I find it unlikely. In case it did actually happen, it would drag all other cryptocurrencies to zero, ending this era, with almost zero chances of recovery. @lovesmayfamilis had once said that Bitcoin will either go up to $500,000 - 1M or crash below $10,000, and this is what I also believe. From my perspective, these are the two possible scenarios, with no inbetween.

[red4slash]

Let's flip the question around: who is capable of eliminating Bitcoin at this point?

We know that Bitcoin has been programmed from the start, with its creation and expiration date (mining) already set from the beginning, and no one can change that. So, if no one can change or control Bitcoin at this point, who would be able to eliminate it?

However, if we were to imagine that Bitcoin were to disappear, everything would collapse—not just Bitcoin, but altcoins would also be completely paralyzed. But this scenario is clearly impossible, as even imagining it now seems difficult, and it is merely a fantasy that will never come to pass.
Bitcoin is now an important variable, especially in investment matters, so this cannot be prevented, especially with the widespread adoption it has now. The likelihood of this happening seems to be approaching 0% or is indeed 0%.

[Distinctin]

It’s impossible for bitcoin to disappear all of a sudden. But probably the question should be, what if we lost access to our bitcoin portfolio account because there was a sudden error that none of us has any idea on how to fix it? So definitely our finances and investment will fall apart, like there was no value anymore to live our lives.

This is a realization for us that bitcoin isn’t a do or die. Hey we have all other profitable options that are just waiting for us to explore, that’s why diversification should be a must. So that if bitcoin’s gone, at least we still have other sources that will make us profitable in the end.

[Orpichukwu]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

Nothing indeed is impossible; anything can happen. We can also wake up one day and notice meeting the unexpected, but like you have already noted, such a thing happening—I mean, the market crashing to zero—is very slim, but let's assume it does happen. Then everything that revolves around it will lose its value, and the entire crypto market will crash with it as well before people can start picking up its pieces. And will people lose hope on decentralization? I don't know, but until then, people will be more focused on what they have lost than on thinking about replacing what just collapsed.

[Patikno]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

Thinking about this makes me realize how much Bitcoin has become a part of our financial world and how many people depend on it now I am curious what you all think Would the world adapt quickly or would it cause a major shock to the global economy

Bitcoin will disappear when technology and electricity disappear, so I don't think that's possible. On the other hand, people have talked about the possibility of attacks by quantum computers, but I think if that were to happen, the first to be attacked would be banks, because we know they're much easier to attack than Bitcoin. There are also rumors about Bitcoin miners stopping, but I don't think that's possible either, because basically, anyone in the world can mine Bitcoin, so is it possible for everyone to stop mining Bitcoin all at once? I don't think so.

I think it is better to talk about more plausible possibilities, rather than imagining things that have no basis. If you have any, please ask so we can discuss them.

[btc78]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

you did say it was impossible so almost no point in thinking about this really

it’s hard to think of the consequences of something happening when it’s so hard to understand what made it happen in the first place

Thinking about this makes me realize how much Bitcoin has become a part of our financial world and how many people depend on it now I am curious what you all think Would the world adapt quickly or would it cause a major shock to the global economy

of course it would cause a shock in the economy

individuals and entitites would be devastated and the stock market will most likely crash. like i said it’s hard to figure out the rest since there’s no real reason for the disappearance.

[Riceandbean]

i will buy alt coin today

[HelliumZ]

If Bitcoin suddenly disappears, if Michael Saylor can control himself, then a small, insignificant user like me can certainly control himself. Although it is not possible, it is forced to say that when Bitcoin was not on the earth, human life was normal. If Bitcoin were not on the earth, human life would continue as normal.
That is, people in the world replace a thing that is lacking with an alternative thing, and the amount of service they receive will be taken from the alternative thing.

[AVE5]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

And it'll remain impossible to be put to thought. Maybe you'd had outlined some convinceable possibilities that can make this happen. For goodness sake the cryptography bitcoin blockchain is adequate and efficient. Adoption is at it own increase due to it traditionally valuability and usability.
Governments are embracing the currency and making flexible and regulatory crypto policies and since it becomes the world feature currency, the future hasn't become now or then so, It's below my knowledge to consider this a thought. Infact even as thoughtful, never forget the saying that "don't invest with what you can't afford to loose" and lastly, if it happens that bitcoin is found no more, the Crypto industry will fall and collapse because users will lost total trust as long the blockchain is concerned because bitcoin has been the foundation, heart and the king of digital assets with usability cases with the largest market Cap which holds the solidity of the DeFi.

[Botnake]

It would be a roller coaster ride experience. One day, you’re on top of your profits, and then the next day everything about bitcoin has lost its value, and the worst thing is, none of us will be excused, but all of us in the crypto market would feel the agony mentally, emotionally and financially.

This kind of scenario would be impossible if we look at its current position, but if we look at its uncertainties, this is  always possible to happen. So the best solution is, prepare for it and prepare for what is unexpected.

[Minor Miner]

Would the world adapt quickly or would it cause a major shock to the global economy

Our world has survived and continued to thrive through 2 world wars, as well as many pandemics worse than covid in the past and many major economic recessions. The world is still standing today, while bitcoin is only 16 years old and has yet to make any significant contribution to the global economy as a whole. What shock do you think it will cause?

We need to be realistic that bitcoin does not yet play a major role in the economy. Until now, it has only been used for speculative purposes, so its sudden disappearance would spell disaster for many investors. But it won't have much impact on the global economy.

[MusaMohamed]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

Your question is not logic at all.

If in your question and assumption that Bitcoin stops its existence, what will happen with Bitcoin market?
If there is no longer existence of Bitcoin blockchain, there will consequently no Bitcoin market. Logically it would be like this as Bitcoin market is a product of Bitcoin blockchain existence.

Will Bitcoin blockchain dies?
I believe it will not die as Bitcoin blockchain is decentralized and nobody can kill this blockchain to death.

[Y3shot]

Ofcourse to move on, what do you expect to be done? And I wonder why you should come up with this mindset,  I just hope this thought is nothing serious because having a thought like this can deprive one from investing in bitcoin.

 But now I can see bitcoin with my eyes I will make good advantage from it because I know how valuable it is. Op I want to encourage you, you should never be worried about bitcoin disappearing because bitcoin have come to stay, just focus in accumulating and hodling it.

[pooya87]

if Bitcoin suddenly stopped existing What would happen to the markets
Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

Your question is impossible to answer because it depends on WHY bitcoin disappeared in your hypothetical scenario. Did someone cast a spell and Bitcoin magically disappeared? Or was something broken in the protocol that killed it? Did we change something and broke the principles such as censorship resistance ourselves? and a lot more...

Each scenario would mean an entirely different thing. For example imagine if ECDSA was broken and anybody could reverse the public keys to get private key. The entire crypto market would collapse immediately and there won't be any replacement for a very long time because almost all altcoins use similar cryptography algorithms as Bitcoin.

But if for instance we turn bitcoin into a shitcoin ourselves (eg. a hard fork to destroy its principles) then it will simply die alone and then a replacement will be created quickly which would replace it. The existing altcoins don't have that potential by the way.

[Oshosondy]

I know it sounds like an impossible question but just imagine for a moment if Bitcoin suddenly stopped existing What would happen to the markets the people who invested their savings and the businesses built around it Would another cryptocurrency quickly take its place or would the whole idea of decentralized money lose trust

If bitcoin suddenly disappears, that means the world is ending and no life will remain again. Possible this world would be empty of humans at the time. As long as human being are still existing on this earth, there would be bitcoin. With the level of bitcoin adoption that we have now, bitcoin can not disappear.

[X-ray]

Knowing the decentralized nature of bitcoin, it's almost impossible except there's apocalypse.

But here's the thing if bitcoin suddenly disappear, won't people who retained the full node can just restart the network and other will start syncing again?

As long as there's source code or people with full node still exist, network can reappear again.

[Tmoonz]

It’s impossible for bitcoin to disappear all of a sudden. But probably the question should be, what if we lost access to our bitcoin portfolio account because there was a sudden error that none of us has any idea on how to fix it? So definitely our finances and investment will fall apart, like there was no value anymore to live our lives.

This is a realization for us that bitcoin isn’t a do or die. Hey we have all other profitable options that are just waiting for us to explore, that’s why diversification should be a must. So that if bitcoin’s gone, at least we still have other sources that will make us profitable in the end.

Even though anything can be possible but this can be hard to believe it is a thing of probability which is more likely not to happen than happening, Bitcoin is a game changer for man kind, we all crave for development, civilization growth and standardization of life which of course Bitcoin has brought us, is quite hard to say or think in that direction of Bitcoin disappearing tomorrow, considering the increasing wider adoption on basics from individuals and cooperate bodies the chances of Bitcoin disappearing in the future is very low.